Base metal stocks Articles

LIVE FUTURES REPORT 22/01: LME aluminium price leads way, up 1.6%; lead also up but others fall

January 23, 2019 / Staff reporter

Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Tuesday January 22, with gains limited by continued strength in the US dollar index, while low stocks and positive fundamentals failed to spur upward movements in prices.Aluminium futures continued to lead the complex in volumes traded over the afternoon, ending the day with more than 17,000 lots changing...Read More

LIVE FUTURES REPORT 22/01: Comex copper suffers heavy losses

January 23, 2019 / Staff reporter

Comex copper opened the four-day working week in the United States on weak footing on Tuesday January 22 morning, with the market awaiting clarification on US-China trade talks.The copper price for March settlement on the Comex division of the New York Mercantile Exchange tumbled $5.70 cents to $2.6620 per lb. There is a four-day week in the US this week following a public holiday for Martin...Read More

IRON ORE DAILY: Seaborne prices correct amid ample offers

January 23, 2019 / Staff reporter

Seaborne iron ore prices dipped below $75 per tonne cfr China on Tuesday January 22 after briefly standing above the mark, with plenty of offers in the market unbid for.MB 62% Fe Iron Ore Index: $74.78 per tonne cfr Qingdao, down $1.12 per tonne. MB 62% Fe Pilbara Blend Fines Index: $75.62 per tonne cfr Qingdao, down $1.12 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $75.78 per tonne cfr Qingd...Read More

GULF STEEL BILLET, REBAR: Domestic rebar, billet import prices fall

January 23, 2019 / Staff reporter

The domestic price for rebar in the United Arab Emirates fell this week on continued moderate demand, sources told Fastmarkets on Tuesday January 22.Domestic rebarLocal rebar producers in the UAE announced reduced prices for material due to be shipped in February on January 21. The country's largest producer, Emirates Steel, was offering rebar at 1,845 dirhams ($502) per tonne ex-works, down from...Read More

DAILY SCRAP REPORT: Turkish mills keep scrap purchasing at lowest level possible

January 23, 2019 / Staff reporter

The Turkish steel producers continued to show very little interest in deep-sea scrap trades because of the weak demand for finished steel in the country's export and domestic markets, sources said on Tuesday January 22.Although some mills have booked a few cargoes to replenish stocks over the past week, with escalating prices, most mills were trying to avoid scrap purchases until they see a recove...Read More

IN CASE YOU MISSED IT: 5 key stories from January 22

January 23, 2019 / Staff reporter

Here are five Fastmarkets MB stories you might have missed on Tuesday January 22 that are worth another look.The heads of several steel industry associations in the United States remained divided on the effectiveness of the Section 232 tariffs on US steel imports but found some common ground on the subject of the yet to be signed US-Mexico-Canada Agreement (USMCA).Global base metals producer Nyrst...Read More

Nyrstar suffers cyberattack; operations not affected

January 23, 2019 / Staff reporter

Global base metals producer Nyrstar announced late on Tuesday January 22 that it had been subjected to a cyberattack that has compromised its email communications and other IT systems. The company's head office in Zurich was said to be the location most badly affected. "The cyberattack issue has been contained and...Read More

LIVE FUTURES REPORT 22/01: Comex copper suffers heavy losses

January 23, 2019 / Staff reporter

Comex copper opened the four-day working week in the United States on weak footing on Tuesday January 22 morning, with the market awaiting clarification on US-China trade talks.The copper price for March settlement on the Comex division of the New York Mercantile Exchange tumbled $5.70 cents to $2.6620 per lb. There is a four-day week in the US this week following a public holiday for Martin...Read More

PRICING NOTICE: Discontinuation of four tin ingot premium assessments in Rotterdam, Singapore, Shanghai

January 23, 2019 / Staff reporter

Fastmarkets MB has today discontinued four weekly tin spot premium assessments in Rotterdam, Singapore and Shanghai due to a lack of spot liquidity. The decision follows a month-long consultation period which did not receive any feedback. Therefore, Fastmarkets MB has discontinued the 99.85% tin ingot premiums in-warehouse Rotterdam and cif Shanghai and the 99.9% tin ingot premiums for standa...Read More

SHFE vs LME physical arbitrage 22/01: Copper, aluminium, zinc, nickel

January 23, 2019 / Staff reporter

Arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday January 22 *Copper -$78.00 (-531.99 yuan) Aluminium -$340.59 (-2,322.97 yuan) Zinc -$5.75 (-39.21 yuan) Nickel -$117.40 (-800.74 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More

Global primary aluminium output up 1.8% vs last year in December 2018

January 23, 2019 / Staff reporter

Global primary aluminium production totaled 55 million tonnes in December 2018, an increase of 1.8% year on year, according to figures released by the International Aluminium Institute on Monday January 21. Global production for the whole of 2018 is up 1.4% or 937,000 tonnes at 64.3 million tonnes. China, the world's largest aluminium producer, produced 39.5 million tonnes of aluminium betwee...Read More

PEOPLE MOVES: Arc Resources hire Wars to anchor European refined trading

January 23, 2019 / Staff reporter

Arc Resources have hired Romain Wars to replace outgoing Guillaume Taieb as the company's physical refined trader in Europe, Fastmarkets understands.Wars, who spent five and a half years trading refined zinc and copper at Louis Dreyfus Metals and subsequently base metal futures at fund managers Siencyn...Read More

Brazilian flat steel producers apply 20-25% price rise for carmakers

January 23, 2019 / Staff reporter

Brazilian steel producers have passed on an increase of 20-25% in flat steel prices to automotive manufacturers in their latest annual contracts, according to Carlos Loureiro, president of national flat steel association Inda.ArcelorMittal, Usiminas and CSN have all passed on the rises to carmakers, sometimes by as much as 25%.An increase of this size had been expected, and...Read More

Brazilian flat steel sales down 11% in December amid low global prices

January 23, 2019 / Staff reporter

Flat steel sales volumes from Brazilian distributors dropped by 10.90% year-on-year in December 2018, due to lower international prices and a number of holiday absences during the month.Brazilian flat steel domestic shipments amounted to 169,900 tonnes, compared with 221,100 tonnes in December 2017, according to figures released by national flat steel association Inda on Tuesday January 22.Clients...Read More

Semi-finished Steel Products Trade Log, January 22, 2019

January 23, 2019 / Staff reporter

The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transactions: billetBilletBahrain, export, billet, traded at $440-445 per...Read More

Long Steel Products Trade Log, January 22, 2019

January 23, 2019 / Staff reporter

The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transactions: rebarRebarUAE, domestic (Emirates Steel), rebar, offered at 1,845 dirhams ($502) per tonne ex-works, February...Read More

GULF FLAT STEEL IMPORTS: HDG price falls on lower Indian offers, demand still weak

January 23, 2019 / Staff reporter

Flat steel import prices in the United Arab Emirates and Saudi Arabia were mostly unchanged over the past week, with demand remaining soft, sources said on Tuesday January 22. But import offer prices for hot-dipped galvanized coil have slumped.Demand was subdued because stock levels in the UAE were already high and buyers have not yet started to place bookings in 2019, sources told Fastmarkets.In...Read More

RUSSIA REBAR: Market quiet on seasonally low demand

January 23, 2019 / Staff reporter

The rebar market in Russia's Central Federal District around Moscow, the major steel-consuming region in the country, remained weak and calm due to seasonally low demand this week.Fastmarkets' weekly assessment of the domestic price for Russian 12mm A500C rebar, including 20% VAT, was 35,000-35,500 roubles ($524-532) per tonne cpt Moscow on Monday December 21, widening downward from 35,500 roubles...Read More

Steelmaking Raw Materials Trade Log, January 22, 2019

January 23, 2019 / Staff reporter

The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transaction: iron oreIron oreGlobal Ore, 88,000 tonnes of 65% Fe Iron Ore Carajas, traded at $88.90 per tonne cfr China, bill of lading dated December 21.Vale, Beijing Iron Ore Trading Center (Corex), 170,000 tonnes of 62% Fe Brazilian Blend fines, traded.....Read More

IRON ORE DAILY: Seaborne prices correct amid ample offers

January 23, 2019 / Staff reporter

Seaborne iron ore prices dipped below $75 per tonne cfr China on Tuesday January 22 after briefly standing above the mark, with plenty of offers in the market unbid for.MB 62% Fe Iron Ore Index: $74.78 per tonne cfr Qingdao, down $1.12 per tonne. MB 62% Fe Pilbara Blend Fines Index: $75.62 per tonne cfr Qingdao, down $1.12 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $75.78 per tonne cfr Qingd...Read More